Once you submit the request please allow TradeHill Staff 12-24 hours to verify the payment.

Please note that Tradehill will continue to comply with our AML verification policy. Customers must verify their identity when their deposit / withdrawal activity (including pending withdrawals and deposits) is equal to or above 10K USD in the last 30 days. This applies to all transfer methods including bitcoin. These totals will be calculated from the total activity in all currencies, including BTC, and will include pending transfers.

Fees:

To withdraw to MtGox, or any exchange it will costs you $10 (We apologize if you think thats high, the fee's were discussed by all parties involved and we did not have the last word. Only $2.50 of that $10 is going to BitInstant)

MtGox has graciously decided to credit 1.25% of your deposit amount, which means everything up to $800 will have 1.25% added to it, and anything over $800 will be FREE.

CryptoXChange will credit your account $5.00, you need to email them yourselves and they will apply it.

VirWox and Bitcoinica is being added now.

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UPDATE Wednesday February 22nd:

We've successfully tested the system and everything is working nicely. It took a few days for us to act as middlemen between the exchanges. Since they are spread are the globe its hard to get everyone on at the same time to negotiate rates, fees and to test the system with everyone.

TradeHill has decided to manually verify all transfers, so we had to delete part of the code and redo it for a manual check halfway thru. Essentially, TradeHill will be verifying all transfers out for AML and KYC compliance. When you make the request it'll be 6-12 hours before TH can approved it. Besides for that process, everything is automated!

As of now (4pm EST) we're looking to launch this sometime around midnight tonight, as soon as the good folks over at MtGox, CryptoXChange, Bitcoinica, and VirWox are ready to rock and roll.

I have to give super praise to my partner Gareth for figuring out how to build a custom withdrawal method in a matter of days, building upon the systems of 4 different exchanges and then having to delete 25% of his code at the last minute due to *someones* mind change aint an easy thing to do.

I'll PM everyone in this thread once its launched, and update the thread

Charlie

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Update #1:

We're on board for launching this extremely soon. The tech is pretty much done and we're testing tonight. I'm also happy to say the following promotions:

- Transfers to your MtGox Account from your TradeHill account is FREE. The folks at MtGox have decided to pick up the tab for their customers

- Transfers to your CryptoXChange Account from your TradeHill account will get you $5.00 added to your account!

- Fees: While we have a few costs and obligations to our banking and exchange partners we're looking to make this as super cheap as possible. We're discussing possibly making transfers under a certain amount for free, to keep the liquidity flowing and buy/sell orders executing!

Thats all for now, will update more soon.

-Charlie

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Firstly,

I want to say what an honor it was been working with Jered, Adam, and Berk @ TradeHill. I've never came across such a fantastic team of people. Most of you may not know this but Jered and Adam have been an integral part of Bitinstant, and have been working with us since day 1. Jered and I have become close friends and I have never worked with such a ethical and hardworking team.

We are currently finishing up our TradeHill withdrawal system, it will be ready within 48 hours.

You will be able to withdaw your TradeHill USD to the following destinations:

-MtGox-CryptoXchange-VirWox-Bitcoinica-Dwolla (Will be ready by Friday)

While we're not sure what fee we will charge (if any) it will be very low.

If you would like to be made aware as soon as its ready, please reply to this thread and I will PM you when we launch.

The system will be simple, go to Withdrawal Options in your TradeHill Account and choose BitInstant. We hate to see TradeHill go, and we will do everything in our power to not let the Bitcoin liquidity be effected by it.

-Charlie, Gareth and the Team @ BitInstant.com

Bitcoin pioneer. An apostle of Satoshi Nakamoto. A crusader for a new, better, tech-driven society. A dreamer.

I'd also like to take this opportunity to thank our partners at TradeHill - from the time i've spent directly working with them to get our integration in place and due to our longterm ongoing partnership we had from the beginning it's clear that they are a very dedicated team and will continue to do great things where they can.

Some people have had doubts about the integrity of TradeHill's staff as can be seen from the multiple posts here with concerns about TradeHill. I'd like to personally vouch for Jered and say now that he has been as dedicated as he can be to his business and to bitcoin in general. I for one will miss TradeHill.

Charlie has found the business model that works in this still-unstable economy. Not touching bitcoin directly is making it successful.

Actually, Bitinstant was totally Gareth's idea, I think his original name for it was "Fast MtGox Deposit LLC" lol

I don't recall the LLC bit, but yeah - the original idea was one that would be very small scale and work only for gox. Things have grown far far faster than I could ever have anticipated and most of that is down to Charlie seeing the potential and pushing things further.

I take all credit for the original concept, but it's him who made things seriously take off.